Lute Riley Honda in Richardson, TX - Misrepresentation and unethical selling practice by Lute Riley Honda in Richardson, TX -- put me on a lease saying buying and leasing a car is same

Lute Riley Honda in Richardson, TX - Misrepresentation and unethical selling practice by Lute Riley Honda in Richardson, TX -- put me on a lease saying buying and leasing a car is same

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Misrepresentation and unethical selling practice by Lute Riley Honda in Richardson, TX -- put me on a lease saying buying and leasing a car is same

Please send this letter to Email User Dear Sir or Madam, I hope you can help me. I have a complaint I'd like to register with you about the unethical sales methods and practices performed by Lute Riley Honda (A Sonic Automotive Dealer) located at 1331 N. Central Expressway, Richardson, TX 75080.

I went back in November 2000 to purchase a vehicle from Lute Riley Honda. They did misrepresentation and manipulation of sales: they leased me a car saying "buying and leasing is same" and I didn't understand the fact and signed all the paper work. The financial advisor, Mr. Brian told me I have to pay $484.40 for 4 years and car would be mine. Now you all can see how I was

ripped off and how cruel they are, here are the key terms and conditions of the lease: 1. I am paying outrageous 484.40 monthly for a 2001 Honda Accord car for 4 years of lease period. 2. They charged Capital cost for $27,000.00. (Gross price for the car, huh!) 3. They charged me rental cost of $9435.00 (more than 33% APR) 4. My residual is 13,084. (that’s what they want after 4 years of payment of

$27,000.00 with monthly rental and property tax if I want to keep the car) 5. I have to pay $.15/mile if I go over 12000/year. 6. Then it will also charge me excessive wears and tears and I don't know yet

what it would be. Here is not the end of this deceiving story, they leased me the 2001 Honda Accord car knowing it has the transmission problem and after 2 years in 2003 the transmission broke down while I was traveling to Michigan. I have all the records that Troy Honda in Michigan replaced the transmission and I was stuck there for couple of days. Later on, in July 2003 I found that my balance was still $21,000 and I was just surprised. I asked about the fact to my financer "American Honda Finance" and they told me the car is leased and in a lease only a small amount go to the principal. Since then I was calling to Lute Riley, they mentioned that the

management has been changed; salesman and financial advisor didn't work anymore, etc. Today I also talked to sales manager Mr. Cheek and he basically told me the same thing. I also talked to Mr. Ramos; a financial advisor in Lute Riley with no result. They all reiterated the same thing. I also called

Ms. Vickie Commer, Customer Service Manager in Sonic Automotive (Main Distributor) in Charlotte, NC and she also informed me that she can’t do anything in this regard. Summary: 1 You made a deal with me not disclosing all the facts of car leasing. 2 You didn’t disclose and itemized the finance fee or rental charge as per federal law in your lease contract. Finance Fee or Rental charge = (Net Cap Cost + Residual) &#215 Money Factor and based on that calculation you charged me more that 33% APR which is simply unethical and bad sales practice performed by your company. 3 You leased me a car knowing the recall or malfunction of the transmission and thus endanger my life with my family. Here's what I'd like to see happen: 1. Take the responsibility of the lease today which is going to be matured in November, 2004. 2. Give me the financial lose of $8000.00 for all the payment and property tax that I paid so far, OR 3. Give me a new residual value of $5000.00 instead of outrageous $13,084.00. They already charged me unbelievable $9453.00 for rent or APR. I hope this settlement is acceptable to you and agreeing with that will save both our time and money. This will also eliminate not to file a lawsuit on my part. Thank you for your prompt attention to this matter. I look forward to hearing from you soon. My activities to resolve this issue with this company (excluding the legal contact): People I spoke with at Lute Riley Honda from 2003 to present: Bill Cheek, Sales Manager. Mr. Ramos, Financial Advisor. Sent letter to General Manager with no Reply. Lute Riley Honda telephone number # 1-800-NEW–HONDA or (972) 238-1700 People I spoke with at Sonic Automotive, the main distributor of Lute Riley: Ms. Vickie Commer, Customer Service Manager, Phone no: (704) 927 3446. Sent letter to Mr. Bruton Smith, CEO with no reply. --

Faizur Rahman

Ph.D Student

Department of Information Science

University of North Texas

Faizur R Click this link to e-mail the above consumer: //

Comment On This

It sounds like it is all your own fault. You shouldn't go signing anything when you haven't done your homework. If you sue, you won't get a penny because you signed it all in black and white. Also, I would invest in a better spell check and learn how to construct a sentence correctly before writing a formal complaint.

Comment On This

wow that sounds like the finance company american honda finace... i just bought a 2007 civic si and honda did body work on it and dropped the resale value to 14,000 dollars from 23,888 that i had paid for it. the finace company also repoed the car and now i am trying to sew them for brech of contract and fraud perjury...you get the point..they also told us not to make a payment{recorded conversation} now we cant get incontact with the finance company to get the car back fefore we have to file the car stolen so anyone help please